The S&P/ASX 200 rose 33.2 points, or 0.39 per cent, to 8,647.6 at 12.10pm AEST on Friday. Nine of the 11 sectors were trading higher, led by technology and energy, while real estate and healthcare declined.
The gains followed a pullback in US bond yields after the 10-year Treasury yield surged in the previous session. Expectations for an October US rate rise also fell, while oil climbed back above US$102 a barrel.
In small cap company news:
Centaurus Metals secures power access for Jaguar Nickel Project
Centaurus Metals (ASX:CTM) has signed a transmission system use contract with Brazil’s National Electricity System Operator for its Jaguar Nickel Sulphide Project in Pará. The agreement secures access to Brazil’s 230-kilovolt high-voltage grid, with an initial allocation of 20 megawatts to be delivered through a 36-kilometre transmission line. Centaurus said the agreement represents an important infrastructure step ahead of a Final Investment Decision, while negotiations on additional offtake, strategic funding and senior debt are also progressing.
Sunrise Energy Metals moves ahead with Nasdaq listing
Sunrise Energy Metals (ASX:SRL) has signed an agreement to redomicile its parent company from Australia to the United States and pursue a primary Nasdaq listing, with a secondary ASX listing. Under the proposed structure, shareholders would receive one US Holdco CDI for each Sunrise share, or could elect to receive a Nasdaq-listed Holdco share. The transaction remains subject to shareholder, court, regulatory and listing approvals and follows a conditional commitment for up to US$400 million in US government debt financing for the Syerston Scandium Project in New South Wales.
First Au to acquire Lady Jane Gold Project
First Au (ASX:FAU) has entered into a binding agreement to acquire the Lady Jane Gold Project from Dynamic Metals, expanding its Riverina tenure in Western Australia’s Eastern Goldfields. The acquisition covers six exploration licences near Ora Banda Mining’s Davyhurst operations, with First Au paying $150,000 in cash and a further $500,000 in cash or shares one year after completion, plus a 1.5 per cent gross revenue royalty. The company has also committed to spend at least $250,000 on drilling within 24 months of completion.
Boom Logistics continues on-market share buy-back
Boom Logistics (ASX:BOL) will continue its on-market share buy-back program, with plans to purchase up to 3.64 million shares, representing 10 per cent of its issued ordinary shares. The renewed buy-back is expected to begin around 16 October and run for one year, with purchases depending on the company’s share price, market conditions and future capital requirements. Boom said the program is in line with its capital management strategy to return 40 to 60 per cent of the previous year’s operating profit through share buy-backs and/or dividends.
6K Additive secures US$27.4 million EXIM loan
6K Additive (ASX:6KA) has executed a final US$27.4 million secured loan agreement with the Export-Import Bank of the United States to expand its manufacturing operations in Pennsylvania. The six-year facility will support new buildings and manufacturing equipment to increase production of critical materials including nickel, titanium and refractory metal powders for aerospace, defence, space, energy and advanced manufacturing applications
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